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Super resource visits up 104 per cent
MLC’s online technical resource visits by licensee and independent financial planners have increased by 104 per cent from the previous year since the 2016 Budget superannuation reforms.
MLC said the most popular technical content developed for adviser audiences were resources on transition-to-retirement and contribution caps.
NAB executive general manager of wealth advice, Greg Miller, said: “There’s a strong appetite among advisers for content that they can use with their clients to explain the super reforms. Infographics and written information for clients are particularly popular”.
“What our data tells us is that advisers are taking advantage of this opportunity to guide their clients through the changes, and really support them to understand what will happen in their individual circumstances,” he said.
“It’s great that our industry is embracing the opportunity to demonstrate why professional financial advice is so valuable.”
Miller said as the super reforms were so large it was far easier to navigate thanks to the resources and support advisers now had available to them.
“It’s not just written content; we have had hundreds subscribe to our upcoming webinars, and many more who will attend in person,” he said.
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The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation as a bequest vehicle.
Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
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